Russia’s gas reserves grow 110%, oil reserves 60% in 2005

The growth of natural gas reserves in Russia exceeded output for the first time since 2000, hitting 110%, while oil reserves grew 60% in 2005, the Federal Agency for the Management of Mineral Resources said Monday. “The estimated output in 2005 was: oil and condensate – 470 million metric tons [about 9.4 million barrels per day], gas – 600 billion cubic meters,” the agency said in a statement. Natural gas reserves grew by 660 bln cu m, and oil reserves by 285 million metric tons [about 5.7 million bbl/d].

RIAN